Renowned cryptocurrency expert and trader Michaël van de Poppe is optimistic about a potential bullish reversal for Sei (
SEI
), a competitor to Solana (
SOL
).
Van de Poppe, with a substantial following of 719,300 on X, suggests that Sei is poised for a surge in upward momentum, as indicated in his chart analysis on the daily timeframe. Despite a 70% decline against Bitcoin (SEI/
BTC
) since January, Sei may find support at 0.0000006 BTC ($0.42).
With a current market cap of approximately $1.6 billion, Sei is currently trading at 0.00000768 BTC ($0.543).
In terms of Bitcoin, Van de Poppe notes that the leading cryptocurrency is currently range-bound between $67,800 and an all-time high of around $73,800. He anticipates a potential breakout for Bitcoin to reach new highs soon.
However, in the event of a bearish turn for Bitcoin, Van de Poppe provides potential support levels at $67,789, $60,748, and $56,000.
Van de Poppe identifies the easing of monetary policy as a key catalyst for the bullish outlook on Bitcoin and other cryptocurrencies. With the European Central Bank cutting rates and potential actions from the Federal Reserve, Van de Poppe suggests that investing in crypto, Bitcoin, and commodities may be a strategic response to the current economic situation.
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Please note that the opinions expressed in this article are not financial advice. It is recommended that investors conduct thorough research before engaging in high-risk investments in Bitcoin, cryptocurrencies, or digital assets. All trading activities are undertaken at the individual’s own risk, and any resulting losses are the responsibility of the investor. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, and is not an investment advisor. Additionally, The Daily Hodl engages in affiliate marketing activities.
